Lloyd's of London insurer Catlin Group Ltd. has agreed to a takeover offer worth more than GBP2.5 billion (USD3.8 billion) from XL Group plc , the New York-listed, Dublin-based buyer said recently. The transaction will be the largest ever takeover of a Lloyd's of London insurer and end Catlin's three-decade...
A group of leading companies in the insurance industry together has established a micro insurance consortium and micro insurance venture incubator (MVI). The consortium consists of American International Group, Inc., Aspen Insurance Holdings Limited, Catlin Group Limited LLC, Guy Carpenter & Company LLC together with Marsh & McLennan Companies, Inc.,...
In keeping with a strategic decision reported last year, QBE North America has entered into an agreement to sell its US Agency business, which includes Community Association Underwriters ("CAU"), Deep South, and SIU, to Alliant Insurance Services. According to a release from the Company, while QBE North America will maintain...
American International Group, Inc. is set to acquire Laya Healthcare, following an agreement by both parties. The transaction is expected to close in the first half of 2015, subject to regulatory approvals. Operating in Ireland since 1997, Laya Healthcare has nearly 500,000 customers. It employs 450 people, principally in Cork,...
XL Group plc has confirmed that it is engaged in preliminary discussions with Catlin regarding a potential transaction to acquire the company and form a combined entity. XL CEO Mike McGavick commented: “Both XL and Catlin – respected, innovative, global P&C firms – are well positioned on their own. However,...
RSA Insurance Group plc has completed the sale of its 21.75 percent holding in Thailand insurer Syn Mun Kong to LeapFrog Thailand Holdings Ltd and Mindo Asia Investments Limited, an affiliate of Lombard Investments, Inc. of San Francisco, USA. RSA received cash consideration of GBP36 million, and the transaction is...
Allianz Group has agreed to sell the U.S. personal lines business of its Fireman’s Fund unit to ACE for USD365 million by means of renewal rights arrangement. The merger of the personal lines business with ACE and the planned integration of theFireman’s Fund commercial business into Allianz GlobalCorporate & Specialty...
AXA announced it has entered into an agreement to acquire 100 percent of Assur Africa Insurance plc (the holding company of Mansard Insurance). Under the terms of the agreement, the total cash consideration payable at closing would amount to EUR198 million. AXA would include the acquired operations within its Mediterranean...
Willis Ireland, part of Willis Group Holdings plc has completed its acquisition of a range of Irish pension and financial advisory businesses from IFG Group plc. The investment augments and supports Willis Ireland's existing pensions business and its financial and wealth-planning services to individuals. It also underscores Willis's commitment to...
Reinsurance Group of America, Incorporated announced an organisational change that will align the company’s businesses and functions into four global organisations. The change positions RGA’s business leaders to continue to deliver risk transfer and capital management solutions to clients and provides the framework for additional growth. Each of the newly...
